Sustainable Growth Advisers LP boosted its holdings in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 0.5% in the 1st quarter, Holdings Channel reports. The firm owned 582,221 shares of the company’s stock after buying an additional 2,886 shares during the period. Sustainable Growth Advisers LP’s holdings in Fomento Economico Mexicano SAB were worth $53,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Fomento Economico Mexicano SAB by 3.8% during the first quarter. JPMorgan Chase & Co. now owns 5,220,741 shares of the company’s stock worth $481,770,000 after purchasing an additional 191,820 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Fomento Economico Mexicano SAB by 1.1% during the fourth quarter. Comgest Global Investors S.A.S. now owns 3,834,214 shares of the company’s stock worth $329,934,000 after purchasing an additional 41,600 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Fomento Economico Mexicano SAB by 10.3% during the first quarter. Janus Henderson Group PLC now owns 3,024,836 shares of the company’s stock worth $279,075,000 after purchasing an additional 281,252 shares during the last quarter. BlackRock Inc. lifted its stake in Fomento Economico Mexicano SAB by 27.3% during the first quarter. BlackRock Inc. now owns 1,654,634 shares of the company’s stock worth $152,689,000 after purchasing an additional 354,644 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Fomento Economico Mexicano SAB by 3.2% during the first quarter. Commonwealth Bank of Australia now owns 1,365,208 shares of the company’s stock worth $125,970,000 after purchasing an additional 41,765 shares during the last quarter. Hedge funds and other institutional investors own 20.85% of the company’s stock.

Several equities research analysts have weighed in on the company. ValuEngine upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Santander cut Fomento Economico Mexicano SAB from a “hold” rating to an “underperform” rating in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $100.00.

Shares of FMX traded down $0.26 during trading hours on Wednesday, reaching $94.98. The stock had a trading volume of 9,158 shares, compared to its average volume of 337,201. Fomento Economico Mexicano SAB has a 12 month low of $80.86 and a 12 month high of $101.12. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.58 and a beta of 0.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.39.

Fomento Economico Mexicano SAB (NYSE:FMX) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.30). Fomento Economico Mexicano SAB had a net margin of 5.40% and a return on equity of 7.87%. The firm had revenue of $6.04 billion during the quarter. As a group, equities analysts forecast that Fomento Economico Mexicano SAB will post 3.9 EPS for the current year.

The company also recently declared a Semi-Annual dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a $0.756 dividend. This represents a dividend yield of 1.61%. The ex-dividend date was Friday, May 3rd. Fomento Economico Mexicano SAB’s payout ratio is 43.19%.

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Fomento Economico Mexicano SAB Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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Institutional Ownership by Quarter for Fomento Economico Mexicano SAB (NYSE:FMX)

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